“… this home sits on a private 3.16 acre lot at the end of a cul-de-sac in Bent Tree.”

Click here to link to the listing for 1397 Chestnut Cove Trail in Bent Tree.  The 3 bed / 3½ bath home is priced at $649,000.

1397 Chestnut Cove Trail in Bent Tree (listing photo)

1397 Chestnut Cove Trail in Bent Tree (listing photo) – click photo to link to virtual tour

“Ranch home on Lake Tamarack in Bent Tree.”

UPDATE – SALE PENDING

The 3 bed / 3 bath lake home at 141 Tamarack drive is on 1.44 acres and priced at $399,900.

141 Tamarack Drive in Bent Tree (listing photo)

141 Tamarack Drive in Bent Tree (listing photo – click photo for virtual tour)

“This beautiful home on Lake Tamarack in Bent Tree has it all.”

Click here to link to the listing information for 63 Blue Surf Court in Bent Tree. The lakefront home is priced at $579,900.

63 Blue Surf Court in Bent Tree (listing photo)

63 Blue Surf Court in Bent Tree (listing photo)

A Seller’s Market

As of yesterday afternoon, there were only three Bent Tree homes listed for sale that weren’t “under contract” or “pending”.

Here’s the explanation of a seller’s market from the Rocket Mortgage website:

What Is A Seller’s Market?

A seller’s market arises when demand exceeds supply. In other words, there are many interested buyers, but the real estate inventory is low. Since there are fewer homes available, sellers are at an advantage.

In a seller’s market, homes sell faster, and buyers must compete with each other in order to score a property. These market conditions often make buyers willing to spend more on a home than they would otherwise. Therefore, sellers can raise their asking prices. Furthermore, the increased interest means that buyers rarely have the power to negotiate and are more willing to accept properties as-is.

Due to the shortage of housing, these conditions often lead to bidding wars. During bidding wars, buyers will make competing offers and drive up the price, typically above what the seller initially asked for.

Shrinking Inventory

The number of homes listed for sale in Bent Tree continues to shrink.  When I looked at one of my favorite real estate websites yesterday, only 22 Bent Tree homes were tagged as “ACTIVE” for sale.  Of those 22, seven were already “UNDER CONTRACT” (in the due diligence period).  An additional 20 homes have a “SALES PENDING” status.  There are still great build-able lots available.